The vicious spiral triggered by the Govt. is putting the country on the road to perdition – UNP

(April 22, Colombo, Sri Lanka Guardian) UNP M.P. Dayasiri Jayasekera addressing a news conference today (21 Apr) at the UNP media unit , said that the Government has created a vicious spiral by borrowing from all and sundry in its desperation at prohibitive rates of interests, not for the development of the country or to ease the people’s cost of living problems and burdens ,but to repay existing colossal debts it has driven itself into owing to its fiscal mismanagement . Since this Government came to power all what the people saw and felt was they being taxed and taxed . To maintain its jumbo Cabinet of 115 Ministers , cover up its fiscal blunders , profligate expenditures and wasteful exercises like untimely and unwarranted elections , the Government makes the people the scapegoats .

This Government is exceptional in that, though it was elected to look after the welfare of the people and development of the country , it has elected the easier method to be parasitic on the people ,ruthlessly tax them and force them to pay for the Government’s sins. Its hedging soodhuwa had cost the country 800 million dollars , as it is now obliged to pay this amount to the Commercial Banks. It is learnt that the This Government is exceptional in that, though it was elected to look after the welfare of the people and development of the country , it has elected the easier method to be parasitic on the people ,ruthlessly tax them and force them to pay for the Government’s sins. Its hedging soodhuwa had cost the country 800 million dollars , as it is now obliged to pay this amount to the Commercial Banks. It is learnt that the Government is again trying to continue with its favorite hobby by raising 1.9 billion dollars from the IMF to settle this hedging debt. This vicious cycle characterizes all the Government’s financial policies which has resulted in the country hurtling down to an economic precipice. The UNP has demanded from the Government to expose the true position regarding all the loans it has taken and is seeking leading the country on the road of perdition. All the time the Government has been dissipating people’s funds as though they are from its private coffers playing ducks and drakes sidelining the Parliament which is the people’s supreme representative body is again trying to continue with its favorite hobby by raising 1.9 billion dollars from the IMF to settle this hedging debt. This vicious cycle characterizes all the Govt.’s financial policies which has resulted in the country hurtling down to an economic precipice.

The UNP has demanded from the Government to expose the true position regarding all the loans it has taken and is seeking leading the country on the road of perdition. All the time the Government has been dissipating people’s funds as though they are from its private coffers playing ducks and drakes sidelining the Parliament which is the people’s supreme representative body.

-Sri Lanka Guardian